Based on our findings, companies have an opportunity to secure significant gains from deploying systems that are designed to automate compensation management and support coaching programs.
Redwood Shores, Calif. (PRWEB) November 10, 2011
Merced Systems, Inc., the leading provider of Performance Management solutions that drive business execution in sales and service functions, today announced it has released a series of video interviews with CSO Insight’s Managing Partner Barry Trailer to discuss key trends uncovered in the firm’s recent research report “2011 Sales Compensation and Performance Management.” Available on Merced Systems' website at http://www.mercedsystems.com/cso, the videos and report discuss current trends in how companies are managing compensation and retention, setting and meeting quotas, integrating coaching into performance management and making overall improvements to sales performance management activities.
Trailer worked with Merced Systems to develop a series of video interviews that discuss the trends found in CSO Insight’s research. With 40-50 percent of companies stating they need to improve their sales performance, Trailer shares how businesses can leverage the insights to encourage desired sales behaviors, do more with sales analytics, maximize selling time, provide managers with accurate metrics, and retain top talent.
Key findings in the report:
- Although manual spreadsheets remain the top method for administrating compensation, their limitations are handicapping sales effectiveness
- Companies with a formal retention strategy in their compensation plans are seeing a 830 percent return on investment
- Only one in five firms have a rigorous, coaching program in place for its sales reps
- Companies that have coaching programs are exceeding quotas and decreasing turnover of top performers
“Our research shows that a vast majority of companies are continuing to use manual methods for managing territories and tracking sales compensation management, which is not only inefficient, but limit companies from improving performance over time,” said Trailer. “We’re also seeing that only one in five firms have rigorous coaching programs, which has a significant impact on meeting quotas, retaining top talent and closing deals.”
Trailer added, “Based on our findings, companies have an opportunity to secure significant gains from deploying systems that are designed to automate compensation management and support coaching programs.”
“CSO Insights research confirms what we are seeing from businesses that deploy compensation and performance management solutions - increased sales, fewer redundancies, more accurate business planning and projections, and higher performing sales associates,” said Mark Selcow, president, Merced Systems. “Companies that implement these solutions can increase their business effectiveness and thereby create a competitive advantage.”
Merced Systems’ award-winning sales and service performance management solutions have proven to increase sales and customer loyalty for Global 2000 companies such as Nationwide, ING DIRECT USA, and Sprint. With more than 140 customers and 800,000 sales and service users which support millions of customers worldwide, Merced Systems solutions are deployed in more than 20 countries.
Join the Merced Systems Community
- Follow @MercedSystems on Twitter: http://twitter.com/mercedsystems
- Become a fan of Merced Systems on Facebook
- Follow Merced Systems blog
About Merced Systems
Merced Systems is the leading provider of Performance Management solutions that drive business execution in Sales and Service functions. Merced Systems’ performance management solutions help drive sales effectiveness, superior customer experience and operating efficiency across a range of vertical industries. Merced Systems’ award-winning products serve Global 2000 customers, and include advanced analytics and reporting, incentive compensation management, coaching, and other performance execution applications. With a strong track record of growth and delivering business impact to its customers, Merced Systems has been profitable for the past eight years. Merced Systems is a privately held company headquartered in Silicon Valley and London, and subsidiary offices in Australia, Hong Kong, and Singapore, with major customers in more than 20 countries worldwide. For more information on Merced Systems, please visit http://www.mercedsystems.com.
About CSO Insights
CSO Insights benchmarks the challenges faced by today's sales and marketing organizations. We track trends in the use of people, process, technology and knowledge to improve sales effectiveness. Research is the core of our business. Each year, we survey thousands of sales executives to learn the challenges they see as most critical. We also review offerings from solution providers to retain our position as the experts on options for Chief Sales Officers like you. We write numerous articles and speak at major sales and marketing conferences to share what we've learned. CSO Insights has served sales and marketing executives for over 15 years. We only offer pragmatic suggestions, experienced-based examples and the kind of insights you'll want before your next Executive Strategy Session or Board meeting!
Media Contact For Merced Systems
Goodman Communications, Inc.